Economy, ANGOLA:Chinese and Brazilian companies in ambitious projects in Angola

LUANDA - Chinese and Brazilian companies are engaged in ambitious projects in Angola, with the
Chinese building the Kilamba New City, a huge development designed to house half a million
people.

Brazilian construction giant, Odebrecht, is in charge of key projects like electricity, water
grids and road construction. It is also dedicated to diamond mining and controls the Nosso
Super chain of supermarkets.

But Angolan commentators note the Chinese investment’s failure to create employment
locally and the danger that such large monopolies pose to local small and medium firms
that could work on smaller scale projects.

The housing infrastructure is also failing to solve the demand for homes with the majority
of those in need unable to afford the purchase price or rentals.

A lack of piped water and electricity services are also common complaints. /IPS (END//2012)